Wednesday, May 5, 2010

Corn Products International (NYSE:CPO) Profits Up

Corn Products International (NYSE:CPO) reported earnings were up for the first quarter, increasing to $43.4 million, or 57 cents a share, up from $16.8 million, or 22 cents a share during the same quarter last year.

Revenue in North America grew to $541 million, up from $531 million last year, a 2 percent gain.

All regions the company serves grew sales in the first quarter.

Overall sales grew 12 percent, although the price/product mix dropped 13 percent. Currency exchange rates helped offset the decline, increasing three percent.

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